Every quarter, Canterbury's Outsourced CIO committee shares their observations of the market that impact the management of our discretionary portfolios in the Canterbury OCIO Review.
During the last decade, the “lower rates for a long period” scenario has arrived with mixed blessings for the global economy. Capital has steadily flown into riskier assets, but despite aggressive monetary policies, economic growth has not maintained pace with the appreciation of financial assets. Despite negative yields offered by major developed market sovereign debt, such as 10-year German Bunds yielding -0.36% and 10-year Japanese Bonds yielding -0.10%, economic data has been soft in most countries, indicating a slowdown in global growth.
In the U.S., the fear of economic slowdown has led to a drop in near and medium-term Fed Funds rates — as estimated by both the Federal Open Market Committee (FOMC) as well as the market. It remains to be seen if reducing rates from their current low levels will succeed in stimulating economic growth or cause more concerns about the economy going into recession.
Ms. Parekh is a member of the Board of Directors, a shareholder of Canterbury, and directs the Canterbury Outsourced CIO platform, which caters to institutions and private clients who wish to outsource day-to-day management of their portfolios to Canterbury. In that role, Ms. Parekh is the chair of the Canterbury Outsourced CIO Committee and a member of each of the firm’s five Manager Research Committees. She joined Canterbury in 1996 as the manager of analytics with responsibility for directing the firm’s account analysts and client services group. In that role, Ms. Parekh secured many of the asset allocation modeling and research software tools we use today. In 2001, she became the director of manager research, responsible for oversight of all manager, fund, and product research; maintenance of Canterbury’s proprietary research database; and chairing the Investment Manager Research Committee. Ms. Parekh graduated from the University of Hong Kong with a Bachelor of Arts in economics. She completed her Master of Business Administration at Shenandoah University.